The Kraft Heinz Company (NASDAQ:KHC) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC lowered its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 10.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,166,910 shares of the company’s stock after selling 132,347 shares during the period. ProShare Advisors LLC owned 0.10% of Kraft Heinz worth $37,598,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital World Investors grew its holdings in Kraft Heinz by 83.4% in the 1st quarter. Capital World Investors now owns 8,709,714 shares of the company’s stock valued at $321,388,000 after buying an additional 3,961,872 shares during the period. Dimensional Fund Advisors LP raised its stake in Kraft Heinz by 47.3% during the second quarter. Dimensional Fund Advisors LP now owns 5,536,214 shares of the company’s stock worth $178,379,000 after purchasing an additional 1,778,263 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Kraft Heinz by 346.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,520,006 shares of the company’s stock valued at $57,799,000 after purchasing an additional 1,179,863 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Kraft Heinz by 56.7% in the 1st quarter. Nordea Investment Management AB now owns 2,840,148 shares of the company’s stock valued at $104,929,000 after purchasing an additional 1,027,636 shares during the last quarter. Finally, Poplar Forest Capital LLC purchased a new stake in shares of Kraft Heinz during the 2nd quarter valued at $26,353,000. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Kraft Heinz Trading Down 0.1 %

KHC opened at $34.96 on Monday. The firm’s 50 day moving average is $34.80 and its 200-day moving average is $35.04. The Kraft Heinz Company has a 52-week low of $30.68 and a 52-week high of $38.96. The company has a quick ratio of 0.53, a current ratio of 1.01 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $42.45 billion, a P/E ratio of 15.27, a P/E/G ratio of 3.43 and a beta of 0.49.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.05. The firm had revenue of $6.50 billion for the quarter, compared to the consensus estimate of $6.55 billion. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.38%. The firm’s quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.79 EPS. Analysts expect that The Kraft Heinz Company will post 3.02 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.58%. The ex-dividend date is Friday, August 30th. Kraft Heinz’s dividend payout ratio (DPR) is 69.87%.

Wall Street Analyst Weigh In

KHC has been the topic of a number of research analyst reports. Bank of America reduced their target price on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Evercore ISI reduced their price objective on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Barclays increased their target price on shares of Kraft Heinz from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. reduced their price target on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Kraft Heinz from $43.00 to $39.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $37.45.

Insider Activity at Kraft Heinz

In related news, insider Cory Onell sold 4,076 shares of Kraft Heinz stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $36.00, for a total value of $146,736.00. Following the completion of the sale, the insider now owns 143,970 shares in the company, valued at $5,182,920. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.32% of the stock is currently owned by company insiders.

About Kraft Heinz

The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in North America and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Ore-Ida, Maxwell House, Kool-Aid, Jell-O, Heinz, ABC, Master, Quero, Kraft, Golden Circle, Wattie's, Pudliszki, and Plasmon brands.